Ormond Beach, Fla. — The Ferber Co. has completed the 33,000-square-foot Phase II of The Shoppes at Granada in Ormond Beach, Florida. ALDI, TD Bank, Spectrum and Salzburg Animal Hospital join Panera Bread, Chipotle Mexican Grill and Petco at the center. The Shoppes at Granada now includes 64,000 total square feet of retail space.
Larchmont, N.Y. — Cushman & Wakefield has brokered the sale of Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, a northern suburb of New York City. Located at 1310-1340 Boston Post Road, the property was 96 percent occupied by seven tenants at the time of sale, including grocer Stop & Shop and a 24-hour CVS/pharmacy. The asset sold for approximately $35 million. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt of Cushman & Wakefield represented the undisclosed seller in the transaction. The team also …
Gilbert, Ariz. — Phoenix-based Vestar has completed the sale of Lakeview Village at Morrison Ranch, a shopping center located at the corner of Higley and Elliot roads in Gilbert. Colorado-based JFRCO acquired the asset for $18.2 million. Developed in 2014, the 93,741-square-foot retail center is anchored by a 52,443-square-foot Bashas. At the time of sale, the property was 98.6 percent leased to a variety of tenants, including Dance Republic, Panda Express, UPS Store and Edward Jones. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, while John …
Lyndhurst, N.J. — JLL has secured a $32 million loan for the refinancing of Veterans Square Town Center, a 136,928-square-foot shopping center in Lyndhurst, a western suburb of New York City. Originally constructed in 2000, Veterans Square Town Center is fully occupied by 13 tenants, including anchor tenant ShopRite, HomeGoods, PetSmart and Supercuts. PGIM Real Estate Finance provided the nonrecourse loan, which carries a 10-year term and a fixed interest rate. Proceeds will be used to refinance an existing loan previously arranged by HFF prior to its acquisition by JLL. Jon …
Davenport, Fla. — New Market Properties, a subsidiary of Preferred Apartment Communities (PAC), has bought Berry Town Center, a 99,441-square-foot, Publix-anchored shopping center in Davenport. Berry Town Center is located at the intersection of U.S. Highway 27 and Sand Mine Road, 29 miles southwest of downtown Orlando and 10 miles southwest of Walt Disney World. John Hancock provided the buyer with acquisition financing. Further details of the sale were not disclosed.
Rialto, Calif. — A Southern California-based private investor has purchased Rialto-Aldi-WSS, a retail asset located on 2.4 acres at 630-660 W. Foothill Blvd. in Rialto. A Los Angeles-based private partnership sold the property for $8.8 million. Built in 2018, the asset features an 18,841-square-foot ALDI grocery store and a 12,430-square-foot WSS, a footwear and apparel retailer. Both ALDI and WSS have a corporate-guaranteed, long-term ground leases with fixed increases every five years and options to renew. Douglas Cole of Marcus & Millichap’s West Los Angeles office represented the buyer, while …
Cypress, Texas — JLL has negotiated the sale of Cypress Pointe, a 173,344-square-foot, Kroger-anchored shopping center in Houston metro of Cypress. The center was 99 percent leased at the time of sale. George Cushing, Wendy Vandeventer and Meaghan Gallacher of JLL represented the seller, Weingarten Realty Investors, in the transaction. In addition, Cortney Cole and James Brolan of JLL placed a 10-year, fixed-rate acquisition loan through Morgan Stanley on behalf of the Houston-based buyer, Tarantino Properties.
Jacksonville, Fla. — CBRE has negotiated the sale of Promenade Shopping Center, a 115,000-square-foot shopping center in Jacksonville. The property was 94 percent leased at the time of sale to tenants including anchor Rowe’s IGA Supermarket, Planet Fitness and the Armed Forces Career Center. The buyer, Jacksonville-based Hakimian Holdings, plans to rebrand the center as Gates of The Promenade Shopping Center. The asset is located at 8595 Beach Blvd., seven miles southeast of downtown Jacksonville. Scott Rogers and Ryan Hixon of CBRE represented the seller, Phillips Edison & Co., in …
Stoughton, Mass. — RK Centers has acquired a shopping center in Stoughton, located approximately 20 miles south of Boston, for $19.5 million. A 59,987-square-foot Stop & Shop grocery store anchors the 79,300-square-foot center, which also houses tenants such as Bank of America, Care Central Urgent Care and Andrade’s Liquors. Nat Heald, Chris Angelone and Jessica Dowd of JLL represented the seller, Katz Properties Retail, in the transaction.
Kennesaw, Ga. — JLL has negotiated the sale of Cobb Place, a 335,190-square-foot retail center in Kennesaw. The property was 95 percent leased at the time of sale to tenants including Bassett Furniture, American Signature Furniture, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, Hobbytown USA, DSW, Jersey Mike’s and Play It Again Sports. Cobb Place is situated on 31 acres at 840 Ernest W. Barrett Parkway, 24 miles northwest of downtown Atlanta. Jim Hamilton and Brad Buchanan of JLL represented the seller, a partnership between DRA Advisors …
